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dagen: more demonstrations in the middle east. the u.s. looks to beef up security at diplomatic posts around the world. connell: the bernanke backlash. why some say the fed is not offering the right medicine. cheryl: and the story that rocks the baseball world. charlie gasparino reported it here first. charlie back with a possible sale of the boston red sox. connell: at the top of the hour, let's go to nicole petallides. nicole: we are seeing a week here where we have moved major averages to multi- year highs. you remember when, it is not right at the 5000 market, but not too far off of its all-time high. most of the names on the dow supporting up arrow speared dow
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component kraft will no longer be a dow component. kraft is out. united healthcare in. they will be creating their new company. that market will be smaller. back to you. connell: thank you. dagen: we continue our coverage of the unrest in the middle east. marines have been sent to yemen now. connell: we are live in cairo, egypt with the very latest corporate good afternoon. there is a battle going on between protesters who are trying to preach some of the barricades. the protesters are launching
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molotov cocktails over the last couple days. these protesters are now trying to head into the american embassy compound. some of the slogans we are hearing are with our blood and our soul. flags waving about islam. posters of osama bin laden. the graffiti reportedly sprayed. take care of america, we have 1.5 billion moderns. these protesters are told by lent is not the way to go. he supports peaceful protesters. clearly from these pictures, that is not a word that the protesters have heeded. we are also hearing about an
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embassy attack in tunis right now. there is a report of a lock -- black cloud. protesting and demanding freedom. we love america and we love freedom. now it is death to america. obviously, a much more extreme crowd that has changed here in the mother of that arab world in just 18 months. dagen: wheatland, thank you for that reporting. we can kick off the list of countries where we are seeing demonstrations. turmoil, what will stop this? our next guest says we are only in act one.
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more chaos is to come. he joins us now from washington, d.c. if this is just about a video, a so-called movie, chuck, then wanted it fade? >> this is not about a movie. you cannot turn out this many people and stage all of the effort that these people have done just as a random event. this was planned for the 11th anniversary of 9/11. the activity was also used as a cover to assassinate our ambassador and libya. this is not random. this moves away from the real question which is with all of our intelligence efforts and presents and a lot of these governments, government that we helped overthrow the previous
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government, why were we surprised by all of this? that is the real question. the reporting, dagen, on this movie was it ran several months ago in a theater in l.a. it ran for a couple of days, maybe. there is something very suspicious about this. dagen: in terms of that aid that we give to these nations, egypt is second only to israel in the amount of aid that we give to that country. is the answer taking that aid away? >> it may be. money talks. the thing is, the power brokers and a lot of these countries, although, it is illegal for u.s. businesses to bribe foreign officials, if you do it government to government and they get to point where that money goes and how that
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investment is made, you look at it another way. you cannot buy allegiance in the arab world, but you can rent it. it is not very flattering, but i am sorry, that is a saying that is very well understood in the community. dagen: in the "wall street journal," on the editorial page, they are suggesting we are seen as a power in decline and weakness breeds this kind of violence. one, do you believe that and, two, can we reverse that? >> i do believe the perception in the middle east going all the way back to when the iranians took the u.s. embassy and they paid no price for it and every administration since then has mishandled our relationship with iran and now it is spreading to the arab world, as well, where we are shown as weak, not even,
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in some cases, coming out strongly in support of our allies, the principal one, of course, is israel, when we do not do that, we are in the arab mind, the weak horse. it is not a good situation. the worst thing we could do right now is talk big and not be willing to back that up. other than having no weapon is to pull an unloaded gun on an armed robber. that will get you shot. dagen: counted, thank you very much. how did chuck nash. connell: the university of texas has ordered the evacuation of all buildings on its campus in austin.
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you. we will bring you more on this multiple bomb threats on campus. they had evacuated that entire campus. the stock market would love to see the federal reserve announced another round of stimulus. fed chairman bernanke said there is little he can do for unemployment. here he is. >> i think we can make a meaningful and significant contribution to reducing this problem. we cannot solve it. we do not have tools that are strong enough to solve the unemployment problem. connell: okay. let's bring in senior economist at wells fargo. we are up 50% on the dow today. stocks like to see money being
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printed. >> i think bernanke is absolutely right. monetary policy is not a perfect substitute for a coherent fiscal policy. we do not have a coherent fiscal policy. it is the lack of a coherent fiscal policy that is making businesses so reluctant to hire people. connell: let's talk about that. you are absolutely right. a lot of people would say it probably will after the latest action from the federal reserve. here is another thing mr. bernanke had to say yesterday about fiscal policy. his comments on the impending fiscal cliff. here he is again. >> if the fiscal cliff does occur, i suspect it won't and i hope it won't, but, if it does
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and we get the kind of impact the congressional budget office is talking about, as i said, i don't think we have the tools to offset that we would have to rethink at that point. connell: we think at that point. no tools for either question. the question, obviously, does congress have the tools? >> they have the tools, it is just a question if they have the fortitude. one of the issues we will have to deal with is, the sequester will probably be put off. it was put in place to stow another credit rating to that u.s. treasury. the trajectory has not improved. we will have to do something larger than the sequester. they will have to replace the sequester which is $1.200 in
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cuts in the federal budget over the next ten years with something that is significantly larger than that. it has to be credible. i am not so sure we will do it. a lot of people say we will put off the sequester and we will not deal with these budget cuts. we will absolutely have to do with them. connell: we have more on the story in texas. thank you very much for coming on. dagen: we want to update you on that breaking news out of the university of texas in austin. the campus had been, all the buildings there, had been evacuated. the entire campus due to what was described as multiple bomb threats. we have gotten a statement from the university of texas that reads as follows, at 8:35 a.m.,
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the university received a call from a mail with a middle eastern accent aiming to have placed bombs all over campus. he said he was with al qaeda. we will bring you up-to-date as we as we hear more about that. the buildings are evacuated. thelma and louise, driving right over that edge. democrats and republicans. they have yet to make a move to avoid the fiscal cliff. can you imagine them in a comfortable, the two of them together? the white house plans to roll out its own plan. connell: charlie gasparino broke the news about the red sox
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owners thinking about a sale. red sox denied that report. charlie has the more breaking details about what happened to the franchise. let's take a look at loyal today. back above $100. we will be right back on "markets now." ♪ everyone has goals. take the steps to reach yours, with us with real advice, for real goals. the us bank wealth management advisor can help you. every step of the way. from big steps, to little steps.
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connell: back to that breaking news in austin, texas. that entire campus has been evacuated. quite a job in and of itself for this campus. with about 75,000 people in total on that campus. 50,000 students and the majority of the rest of the people would be workers did dagen told you about this moment ago. somebody with a middle eastern accent promising they would go off in about 90 minutes. 8:35 a.m., a university received a call claiming to place these bombs all over campus and saying he was with al qaeda.
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ninety minutes would have been 11:05 a.m. did it is 11:17 a.m. now and new york. a large scale evacuation. dagen: it is a little more than a quarter past the hour. every 15 minutes we tell you about stocks. financial stocks are surging. nicole: we are seeing a market that is taking up. it really started a few days ago when you heard angela merkel saying they would behind the euro zone and the bonds. the truth of the matter is it started there and then yesterday fed had bernanke delivering all and bringing out everything. here is a look at the financials today. i just did a check on all 30 dow components. the best performer of the week
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is bank of america. up about 9%. we are seeing jpmorgan a winner this week. back to you. dagen: thank you, nicole. connell: the obama administration promising a plan for spending cuts. nothing has been presented. dagen: rich edson is down in d.c. with the very latest. >> this goes all the way back to that super committee. they were supposed to find a trillion dollars in deficit reduction or else. in a few months, we get the or else. last week the obama administration, by law, was supposed to report specifically which spending gets hit next year for the military. the white house missed that deadline. we are still waiting.
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>> the president has simply taken a path and instead not meeting the requirements of the law. it is an example of an incomplete by this president on his report card. >> congress can avoid these if republicans sign off on a tax increase. >> they say they will ask the president to submit a report to congress. he has already done it. he did it a year ago. they just don't like it because it takes a balanced approach. >> the white house says it will release the details later this week, but we are now running out of week. back to you. connell: yes, we are. a lot of breaking news for us to cover today. we will also get to charlie gasparino. about the possible sale of the boston red sox.
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dagen: gas prices hurting everybody. hurting our economy. wayne rogers will tell you what needs to be done about it. first, a look at how world currencies are faring. the dollar weakens. the euro is up 131. incredible. ♪ with the fidelity stock screener, you can try strategies from independent experts and see wh criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account.
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dagen: the majority owner of the boston red sox responding to the news and our very own charlie gasparino broke yesterday. the facts and any other components are not for sale and will not be for the foreseeable future. speak. as luck would have it, charlie is here right now. charlie: i think you got caught with his hand in the cookie jar. what i know about this god, i have never met him before.
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not doing very well. i gather he had a big part real-world. i gather he had a big part in michael lewis's money bowl. i don't know this guy bought i know, aside from the story itself and all we source this and went through this very methodically yesterday morning, was not just thrown out of the air and we should back out, and we put their denials of front. we were very open. we were very open and didn't hide the football in that regard. usually when you react like they react, insanely not trying to deny it it makes you wonder. something to it. many public corporate mergers for 20 years and covered wall street a long time. they come out and say we will not dignify it.
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and move on. after i went on, called them up here is what and got on it. here's what i think is happening. financial problems, spread really thin. and a soccer team. spend a lot of money for players and not doing very well. not producing or making enough money based on that over there. and squeeze a little bit. he went out and valued the company. i know someone that spoke directly to the people there and they talk about numbers and --
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no plausible deniability but the boston red sox have financial issues. how could this great franchise hook their wagon, a guy who is that is a really good spread really thin. what did they celadon i can tell you. >> we were very interested in it. >> a lot of people ask who is the buyer. [talking over each other] charlie: comcast is a name that keeps coming up, and sources inside comcast are telling fox business, to any discussions now.
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and one of the people, and the source of the story, the sports franchise. connell: another breaking story. got to run. charlie gasparino. dagen: ordering evacuation this because of a bomb threat. this is north dakota state and fargo doing the same thing for the university of texas as early this morning. university of texas also received a bomb threat from the communications department. a phone call to detonate bombs in 90 minutes. and 8:35 central time. and they are finding out north dakota state, and also evacuate.
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we don't know of any connection between these events but breaking news. connell: coming up at the bottom of the our markets are up and nicole is with stocks every 15 minutes. nicole: we are looking at apple, andy iphone 5 to beat the capital and analysts and clearly iphone 5 fever is in full swing. and free water on the apple, the initial availability, and the new lighter swimmer, better and sexier iphone is certainly a winner, and the dow and the nasdaq, on the heels of ben
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bernanke who of course delivered everything on a silver platter, and extending language into low-interest rates. and buying across the board and financial leading the way as well. dagen: thank you for that. crude-oil topping $100 a barrel for the first time since the a. mounting tensions and protests throughout the middle east and the federal reserve ready, willing to pump tons of money, tens of billions into the economy. when rogers is here to way and who joins us now from los angeles. is this what we have to deal with not just for months but years to come in terms of energy prices? >> not necessarily energy prices. you talked about the fact that ben bernanke is printing money. he is pumping money in. the treasury is is a bunch of bonds and the federal reserve
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buys them and it is the same as printing money. you have inflation, all commodities being subject to that will inflate in price. they are not subject to this and at the same time in the middle east all of this turmoil going on which is a threat so traders are obviously going to bet up the price of oil because at any moment is the threat of oil markets being interrupted by this. dagen: doesn't look like in the foreseeable future anything will happen to bring the price back down. is the economy on the ropes? are we in danger even though -- prices come down and is ben bernanke going to have the opposite effect on the economy than he would hope? >> ultimately is because trying to keep the genie in the bottle. the fact of the matter is you could say what could help this
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problem, one thing is the administration could allow the keystone pipeline to occur. why they are blocking it i have no idea. the unions are for it. the oil industry is for it. almost everybody is for a except the president of the united states. there are things that can relieve the price of oil we are not doing. dagen: is it healthy that this is not the kind of shock that we saw in 2008 where it will spike above $100 a barrel, was $135 a barrel at the high. oil has remained relatively high for the american people in the last few years and got me chance to learn to live with it. >> that is true but also hurts everybody. certainly the lower end of the economy if you are a person who has to drive a long distance to work and you have to shell out that much more for your pay, it is a problem. natural gas is going to be a
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substitute that will have its day. we have an unlimited supply. dagen: would you invest in oil and commodities? >> i am already invested in oil and commodities to a great extent because as i said inflation is a genie in the bottle that will get out sooner or later and ben bernanke and all the politicians in the world can't bribe themselves enough to keep it in. dagen: it would take a healthy economy to trigger that and this economy is not. >> it does not take a healthy economy to trigger inflation. after world war i in germany it was not a healthy economy and inflation went berserk. dagen: they had a printing press. you couldn't remove the accommodation. the federal reserve says it can remove this but you don't buy it. >> i don't buy it at all. dagen: paying your rent with butter. good to see you.
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wayne rogers from wayne rogers and company. connell: melissa frances special on oil. breaking news is two college campuss, and bomb threats and biggest north dakota state putting out the state requiring employees and students to leave campus because of a threat. it was a bomb threat, $14,000 plus in terms of student enrollment at north dakota state. and 70,000 people in total. jon huntsman, former governor of utah, he will join us in this tense week in the middle east. ♪
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and the human element can solve anything lori: i am lori rothman with the fox business brief. a settlement with the commission for improper distribution of rocket information by the stock exchange. this marks the first time the sec brought charges against an exchange. the nyse exchange of $5 million penalty for consultants for u.s. compliance system. in early september americans are more upbeat about economic job prospects. university of michigan
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preliminary payment better than expected at 79.2. it rose for the second straight month in august and rising demand for cars and trucks. pain at the pump pushed consumer prices pushing the biggest increase since june of 2009. that is the latest from the fox business network giving you the power to prosper. we asked over 3,000 doctors to review 5-hour energy and what they said is amazing. over 73 percent who reviewed 5-hour energy said they would recommend a low calorie energy supplement
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to their healthy patients who use energy supplements. seventy-three percent. 5-hour energy has four calories and it's used over nine million times a week. is 5-hour energy right for you? ask your doctor. we already asked 3,000. connell: let's go back to the embassy in cairo where protesters have gathered yet again. live pictures on the fox business network. this is days after the u.s. ambassador to libya, three is killed in benghazi. and the former governor of the state of utah from washington d.c.. thank you for coming on. i noticed in your statement you
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put out a statement offering condolences after the tragedy where ambassador stevens was killed and you said at the end of the this is a bubble reminder that politics should end the water's edge. how worries handled by mitt romney the ran against the republican primary? >> let's start with this premise. america is looking for a little bit of unity during a time of need and upheaval in crisis overseas. this is not a time of finger pointing or cheap shots. american people looking for a clear articulation of what america's interests are in north africana and the middle east and how we put the pieces together. everyone knows it is broken. everyone knows we are experiencing unprecedented times but where do we go from here? a perfect opportunity for mitt romney to step up and provide a road map based on clarity, u.s.
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priorities and what our expectations are going forward and that is completely legitimate in this time of crisis. connell: i want to get to that word we go from here question and one question on china for you in a moment but just to follow up real quick it sounds like you are saying you don't think mitt romney has handled it well so far. >> i don't think there's a road map. there's not a clear regional vision in terms of what the united states wants to see out of our interaction with north africana and the middle east. i think what we are experiencing is historic. a lot of the instability is to be expected. if you likens this to the end of the ottoman empire in 1919-1920 there will be a period when we need to step back and make sure u.s. interests and values are properly articulated and above all you can't have a relationship with nation states if diplomats are not protected. it is the duty and
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responsibility of host governments to protect our personnel at our embassy. they are the external ring of security. we provide internal security through the united states marine corps and this ought to be the fundamental starting place. what do we want out of these relationships longer-term? we want stability. we want free trade and commerce. we want the trade routes open. we want help on counterterrorism. we would support for our alliances in the region above all israel and that means each of the. it means to live up to commitments. if it doesn't we need to talk about how to withdraw financial. connell: you don't think or how do you think president obama for whom you worked as ambassador to china in your most recent position because you ran for the republican nomination for president this time around but how do you think president obama has handled things since the news broke and does he need to be more aggressive in dealing
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with these host countries? >> there was an appropriate expression of condolences toward the families who lost loved ones. the stephens family and three others. the president talked about taking after those who were the perpetrators of these murders. that is something all americans ought to be able to rally around. where the president has not given any kind of clear articulation is where we go from here and how we put the pieces together again. i would argue the president has not fully use economic leverage of power in the region. why are we seeing in stability in part? because we have pockets of despair. we have high unemployment and a lot of people without much to do so you turn to radical -- that has to be addressed. dave: how would you address it if you were president? how would you address that specific issue? >> as a former trade negotiator i used to be the u.s. trade ambassador and was involved in
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free trade with singapore, united states, india, early agreement with korea. why do we have a more stable relationship with jordan? we have a strong economic relationship. there's more we can do beyond jordan and israel because in 1975 to use our economic influence in the region. it speaks to growth and speaks to the region in terms of opportunity. let's face it. longer-term that will be the only fix solution. connell: live pictures in the cairo embassy, each of the. small number of protesters and a different camera angle. before i let you go i want to ask one question about china and everyone is talking about. the next president of fiat and supposedly disappeared and no one has seen him in public for a few weeks. reuters had a report that he had a bad back but what do you know
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about this situation and what do you make of it? >> it is not altogether uncommon for senior chinese leaders to take leave for a while. the spotlight has never been on like it is today so those absentss are noticed. my guess is this weekend we are likely to see him emerge with a lot of work that has been done over the last week or so on the eighteenth party political transition. in october you have decade transition once for every ten years. 2,000 people who are going to get together and populate the central committee. probably 200 people who will then figure out the 25 people in the politburo and 75 in the standing committee. this takes a lot of work. they are in the final phase at this point. i am not altogether surprised that you have some senior people taking time off and looking into
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that. i would be surprised if there's not more than that. connell: we covered a lot of ground. thank you very much. dagen: when tv people disappear that means plastic surgery. never mind. quarter till the hour. stocks now and every 15 minutes. what do you know? nicole: take off a day or two at a time. not long enough for a facelift but so far so good. let's look at facebook and zynga. mark zuckerberg came out after the balance that there's so much growth potential for facebook and the mobile area. they are reaching the engineering team to make smart phones a top priority. it won't be as much on the desktop or smart phones. facebook up 6% and facebook moves with zynga as always and we look at the airline's. oil went above $100 a barrel and
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the airlines directly correlated and airlines down so on a day we had about -- a lot of up arrows and retailers and not the airlines. here's a quick market check. 58 points and hitting multi-year highs. dagen: thank you. connell: lot to cover today. three days in the valley on top of everything else. betting big on the start of. dagen: liz claman talks to a well-known investor betting on newcomer switchboard.
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dagen: sometimes you need more than a great idea to get your business off the ground. you need a lot of loot too. connell: liz claman is that flickboard in palo alto with one of the angel investors for that start up. it is day iii of 3 days in the valley. liz: we have moved to a company we first profiled a year ago. they were in infancy stage. come on in. we love the attitude of start ups. welcome to flickboard population 57. they have already added just another three so they are growing and we believe the numbers which is music to the ears of the original or some of
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the original investors. david lee is founder and managing partner of venture capitalist angel investor and what is the difference? is it the size or amount of money you put into a startup? >> a little bit of both. we getting in the your earliest stages so when a company is like this or even the proverbial two people in a garage where they get in when the company sets the stage of building the company. a little more bills out. liz: what made you choose flipboard? every dollar is precious when it comes to venture capital. >> this was very easy. for us, think about michael, these are celestial people. mike has built a unique eye for design. for us it starts with the founders and that was an easy decision. second part is one of our themes is real-time war social data and data fancy way of saying people
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are consuming and creating media in different ways and that is where we think flickboard will be the leader in how people consume media. liz: it is the first social media sort of online apps people would use as a magazine they can customize. talk about growth. last year when we profiled them they had two million users and now they have twenty million users. that is a pretty exponential jump but it is all about the ad. these are cultural bads than batters and when you talk about the page on your android, they have three billion flips of ads. >> it is amazing. another thing to point out is the ads fit in with the whole experience. they are really part of the experience. it speaks to the changing way in which people are consuming
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media. not about tv guide. it is about social media. it is about integrating the apps into the content and they are the fourth run. liz: forty million -- what other three things? there are people watching who say i have an idea. what do you look for aside from as you said the leadership, and -- >> as angel investors we invest with any data and so i like the real estate, only three things matter for me our founders. it is all about the founders and we look for two things. the first is the founder that is scratching his or her own image and solving a problem that means something. and this translates to a huge market. the second it is almost impatient. they are not satisfied with the way things are.
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someone like jack dorr see your mark zuckerberg talking about why they started a company starting a company got in a way of their wanting to make the world difference with what they wanted to build. liz: always looking for the big ideas. thank you. they found it here at flickboard. one idea that is 20 years already into its stage is sony computer entertainment america. coming up in the next hour jack trenton. this is an entire industry starting to show slow down for computer games in the council business. what is he doing? we will get sales data and find out the stages they are for sony coming up in the next hour. back to you. dagen: thank you so much. connell: stocks have been rallying after the fed announced a new round of yesterday. [talking over each other] sandra: there is euphoria around
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the big announcement but the big question is a bunch of money managers and mutual-fund managers what stocks are most brazilians, once the euphoria of q e 3 state and the area many point to is the technology stocks like apple marching to its own beach and this one is the least addicted to quantitative easing and we continue to see them put it out new devices and stock has momentum up 72% this year and with the p e of 16 at all-time highs. many pointed to that and the gold mining stocks which are depressed. they have newmont mining down 5% and the rest of these are on the list and i have that in later hours. dagen: up-to-the-minute coverage ahead on escalating tensions and protest violence in the middle east. connell: markets continue with the latest on evacuation than
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threats as well at universities in texas and north dakota. stay with us on fox business. want to try to crack it? yeah, that's the way to do it!
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dennis: dennis kneale. cheryl: i am cheryl casone and being ben's bull run is on today. stock senate five your high and climbing a day after the fed's big move. two conflicting views on where we go from here. dennis: could be the end of the twinkie. hostess's ceo says if the union vote today goes against the company will shutdown that iconic baker. cheryl: charlie gasparino with new details on a story he scored yesterday. why the red sox are for sale even though their management says the report is off base. dennis: stocks now, phil flynn watching oil and gasoline prices
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and nicole petallides at stock exchange and the bulls are actually still roaring up. nicole: the market right now up 41 points. this tax on to yesterday's game on the heels of what we heard from the federal open market committee putting everything forward. bond buying and extending low rates and on highly accommodative fed moving markets to multi-year highs. the nasdaq is the highest level since 2000 and take a look at kraft and united healthcare and that is because kraft as of sept. 20 first is out. united healthcare into the dow jones industrial average. they're sitting on their north american business. they will be called -- kraft foods will be renamed montana international and it is one of the big losers on the dow jones industrial average second only to intel which gave a weak outlook. that is the latest on the stock exchange. what is going on in chicago?
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phil: a lot of excitement. oil prices above $100 a barrel earlier today on the fed accommodation but also on concerns about a middle east that seems to be going wild. we are seeing oil crisis retreat right now. the rumor mill is running strong that there is going to be an imminent release from the strategic petroleum reserve at any moment. this rumor has been going on for some time but gaining more heat right now because she economist for international energy agency said he is concerned about high energy prices impact on consumers and looking them of closely. i also think they're showing displeasure with the federal reserve, that will increase the odds of more inflation so keep an eye on it. cheryl: todd schoenberger, managing principal is here,
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wanted to talk to both of you because let's look at the dow. look at what we have got. here's what we had yesterday thanks to ben bernanke. you say you love this and you are thrilled ben bernanke made the move. >> a couple reasons. we needed it to happen for this economy. this economy was stuck in quicksand and this fiscal cliff is another issue but going forward the markets needed to do this. even though this isn't implemented until january this is great for stocks. he would be a fool not to be investing in stocks at the start of the year. cheryl: you don't agree with that. you say they should not have made this move. >> the move was widely inspected. he took it further by going with the open market end. we have had plenty of stimulus and expanded the balance sheet and provide liquidity and what have we gotten? to a certain extent adrenaline shots are preventing what would
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have been a far worse crisis but the fact is job growth which has become the fed's number one priority i don't see how their policies are translating into improving them. cheryl: that is a fair point. at what cost to the economy? look at oil at $98.90 over $100 a barrel. the cheaper the dollar euro is at $1.31. >> commodities are going. [talking over each other] when has inflation not been an issue, and this is an economy, the risk was too great to wait. and this implementation, he ran a lot of risk. they win the opposite direction
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with a decimated household balance. >> housing prices and housing in general has a nice run and this will stimulate further. the economy has come off of the cliff. we have the same major issues in china. and european debt crisis and the fiscal cliff. and the contentious election. and -- [talking over each other] >> we start jan. the balance is $107, the s&p. people -- nothing organic about it. and january of 2014, and -- [talking over each other] >> the first president in u.s. history for eight years have
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nothing but stimulus, and they get it. however, there is nothing else out there that will get the economy to grow. >> they do this on their own. [talking over each other] >> that will not do. >> he is being proactive. and in every session. >> and here's where you see the pressure. gold is most likely going to shoot higher. the market commentary because of the weaker dollar. and very controversial and nobody gets angry because they are sending up gold. there was a big debate in six
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months. what he pulled yesterday is an open ended -- >> and we are trying to tell you. and since 2009, he has to do something. the dual mandate and other things. here is the problem. i didn't hear many companies say i will hire a bunch -- apple is going to net $48 billion -- [talking over each other] >> hire 50 employees. thanks to ben bernanke. >> an open-ended policy. >> a 0 sum game. fixed-income investors that favors are getting destroyed. to that ben bernanke -- there will be areas you can invest elsewhere. telling the market shifted. [talking over each other] >> fair to a lot of people who put their money in safety --
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cheryl: thank you very much. todd schoenberger urge -- thank you so much. dennis: from yemen to egypt to lebanon to pakistan anti-american unrest continues to spread across the middle east and north africa. up-to-the-minute coverage from london. >> remarkable stuff. we are watching the seeds all day and it gets stranger and stranger. could be a muslim holy day of prayer but it is anything but sacred. a lot of violence and a lot of corners of the world. anti-american. let's go to tunisia. we saw protesters climbed the walls surrounding the u.s. embassy in tunisia and set a fire inside the embassy and also set on fire an american school nearby. the word we're getting thanks to
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police and special forces protesters have been forced out. in sudan much the same thing. protesters seen scaling the walls of the u.s. embassy in khartoum and setting fire and doing damage. thousands of protesters outside again, latest word is protesters have been pushed out of that embassy complex. let's switch to lebanon to the northern city of tripoli. two capitalists symbols of the united states and fast-food restaurants. and protesters there. one attacker was killed and 25 injured and that makes visiting lebanon this week and over to yemen where yesterday protesters scaled walls of the u.s. embassy in son of the day they were tangling again -- security and police. we understand with the protesters that marines and
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other u.s. security have stiffened the events there. all of this about the anti muslim film following the deadly events in libya seemed at the u.s. consulate in benghazi and little more. very turmoil filled day. dennis: i thought we were making new friends over there. thank you. dagen: the red sox deny it but charlie gasparino is sticking to his guns. more ahead on why charlie insists the red sox are for sale even the management says he is off base. dennis: junk food fans listen. hostess ceo an exclusive on why the teamsters could bring the death of twinkies. first as we do every day at this time look at metal. when i found out my irregular heartbeat
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tell your doctor about all medicines you take, any planned medical or dental procedures, and don't stop taking pradaxa without your doctor's approval, as stopping may increase your stroke risk. other side effects inclu indigestion, stomach pain, upset, or burning. pradaxa is progress. having afib not caused by a heart valve problem increases yourrisk of stroke. ask your doctor if you can reduce your risk with pradaxa.
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dagen: cheryl: majority owner of the red sox is responding to a story charlie gasparino wrote yesterday. john henry issuing a statement saying any components of the sports group are not for sale and will not be for the foreseeable future. charlie is sticking by the storytelling dagen mcdowell and connell mcshane who might be interested in buying the red sox. >> comcast is a name that keeps coming the. the owner of nbc and big cable
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distributor. putting a call to comcast they had no comment but sources inside comcast tell the fox business network they are not in any discussions right now so this is preliminary. i can tell you the guy they spoke to that i know directly, one of the people that the source for the story, owns the other -- and other sports franchise. he is not a major corporation but a fairly rich guy. cheryl: charlie is working the story. more from him throughout the day on fox business. it is 15 past the hour. stocks now every 15 minutes. another -- here we go again. another new all-time high for apple. nicole: slimmer and faster. everybody wants the new iphone 5. the frenzy has begun. talking about i phone 5 fever. i went to the verizon for this
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morning for something completely different and the guy who worked in that force that i am so busy i am getting so many orders for the i phone 5 which goes on sale sept. 24 about free orders are going wild. apple noting their initial inventories are sold out. here's a look at the stock approaching the $700 mark. barclays has a target and there's a $1,000 price target. apple doing great again today. let's look at the major averages. the dow up 1/2% and the tech having nasdaq the best of the bunch up 1%. levels we haven't seen since 2000. cheryl: thank you very much. dennis: has it really been 30 years? 30 years since usa today scandalize the newspaper business with its debut as a proud to be perky relentlessly splashy paper of a future. usa today's approach spread to newspapers everywhere and now the paper
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does the redesign to look more icon happy an even cleaner and faster and lighter weight if that is possible. look at a couple key differences. this is the paper as existed yesterday and for much of the past 30 years. and now they are going light. this strange typeface over here and a single circle and that circle is repeated throughout the entire thing. used to have sports but now you have a circle and a little cowboy hat because that day today as a story on the cowboys'. good luck with that. you are still -- i am a fellow. cheryl: i am not a fan of the new one. organic food manufacturers fighting back against california ballot proposition you would think they would support. the reason it may surprise you. dennis: it is hardly organic but the twinkie is in danger.
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hostess's ceo says if the union vote goes against them they will set down the iconic pastry. look how the world currencies are faring against the u.s. dollar. let [ engine revving ]
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who would you choose ? wow. you guys take a minute. zon, hands down. i'm going to show you guys another chart. pretty obvious. i don't think color matters. pretty obvious. what'sretty obvious about it ? that verizon has the coverage. verin. verizon. we're going to go to another chart. it doesn't really matter how you present it. it doesn't matter how you present it. verizon. more 4g lte coverage than all other networks combined. make sure the news keeps coming with thinkorswim by td ameritrade. use the news links breaking stories with possible breakout stocks, options with potential opportunity, futures and forex with in-depth analysis. it's an all-you-can-eat buffet for all things trading. thinkorswim by td ameritrade. it doesn't just deliver news. it's making news. trade commission free for 60 days, plus get up to $600 when you open an account.
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>> 21 minutes past the hour your fox news minute. university of texas at austin evacuated after a man with a lease and accident called the university with a bomb threat. so far no devices have been down. it is one of the biggest in the nation with 75,000 people on campus. and also received a bomb threat. it is unclear this week to a link to. the pentagon reportedly dispatched a team of marines to yemen to protect diplomats and reinforce security at the american embassy falling the deadly attack. yemeni officials are preventing protesters from approaching. and this afternoon to potentially end the five day strike. union and school board officials worked into the early morning for a deal with the hopes of getting students as early as monday.
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now back to dennis. dennis: the future for the hostess company is nothing like these bungee suite product. the company says it will be shutdown and a vote by teamster employees started today goes against it. we are joined by hostess ceo greg rayburn. the twinkie is part of a company that has been around for 80 years. the teamsters vote comes senate 4:00 with the they're willing to agree to $180 million a year in concessions. if you vote against that i am shutting down the company. are you bluffing? >> no. i don't bluff in general. it is a serious fact and a hard truth. we have been very consistent with our unions that there is not going to be a second vote. there is not going to be a buyer out in the wings that will swoop in like a white knight and save the company. if the teamsters vote no we will
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shutdown. dennis: you are workout artists. you try to resurrect world, after its scandal and shutdown otb betting parlors in new york. unless we can't reach agreement maybe you are not bluffing. the company lost $340 million last year. a big part of the burden for employees that never worked for host this. >> we paid $103 million a year in pension contributions and multi employer funds and $52 million of that during the time of those contributions went to employees that never worked for a host this. dennis: their companies went out and the contract requires the survivor to pay for the old guys and you are asking for $190 million in cuts and 8% pay cuts and pension contribution you get to skate until 2016 and falls from $125 million? >> january of 2015 we start pension contributions. dennis: why should the union vote in favor? tell us what you offered them.
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>> unlike the last bankruptcy of the second time through this process for hostess they are getting 25% equity ownership in the company so their interests will be aligned with lenders to get 75%. 1 hundred million dollars which give them a claim and the head of the head of equity. dennis: have to fall back on. >> two board seats and one on the comp committee. dennis: and save 18,000 jobs that this company. how do you think it will turn out? >> i have no idea. [talking over each other] dennis: the teamsters have not recommended they vote for it. [talking over each other] >> they basically said we know this is difficult. they went through bankruptcy before. the same group gave concessions. probably not enough. these concessions are deeper but need to be for the company to be healthy and live another 70 years. they said this is a tough deal
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but you need to decide because it is go or no go. dennis: all right. thanks for being with us and good luck with the teamsters vote. cheryl: time for west coast minute. a new ballot in california under attack for major u.s. companies. proposition 37 will require all food in california to list genetically modified ingredients on the labels. the first of its kind in the nation if it passes. california's attorney general is investigating whether the trend of consolidation in hospital and doctors' groups is making health care more expensive. connell harris has been subpoenaed to groups in san francisco, san diego and santa barbara. health-insurance companies being questioned. las vegas property tax collections are down 33% since 2009 representing the worst
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decline in the nation. home prices are down 57% in the past six years and two of three property owners in vegas are under water on their mortgages. nevada is the only state where if you add up the value of all the single-family homes the total is less. that is your west coast minute. dennis: violence spreading across the middle east in north back as the u.s. beef up security at its embassies. rob hardy will be ahead on whether your investments in the region are saved. cheryl: as we go to break take a look at some of the winners on the s&p. there are losers as well. we will be right back.
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dennis: 30 minutes past the hour. stocks every 15 minutes. nicole: five year highs. the nasdaq at the highest since 2000. it is pretty unbelievable. right now the dow is up 13,603. the tech heavy nasdaq is doing well. let's take a look at some of the names that are getting a big bounce off of said chairman bernanke. a weaker dollar pushes metals, minors, commodities. there are some of the
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financials. back to you. cheryl: thank you very much. more now on that breaking news. bomb threats at the university of texas in austin. the campus evacuated. so far, no devices have been found. the university one of the biggest in the nation. governor just really think this statement. we are aware of that threat and are in close communication with law enforcement officials. fox business will update you on any new details as we get them. dennis: we continue our coverage on the middle east. we are live in cairo, egypt. reporter: sundown here and cairo on friday.
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a number of the prayers are marching down here towards the american embassy over my left shoulder. that is where we have had a battle going all day. some of those protesters tearing 4-foot tall signs of osama bin laden. this crowd is very angry. we are getting some of that teargas here at our position. it is definitely not a pleasant sight. this is a much less educated crowd. a crowd which is very anti-americans. shouting with our soul and our allied we defend our profit mohammed.
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they were u.s. embassies attacked as well and tunis. we just heard that the egyptians protecting american assets right now. dennis: thank you. cheryl: just three days ago, 120 members returned from egypt. rob hardy joins me now. you identified areas in the world for investors. some of the people left, luckily were clients of yours. >> several were. that is correct, cheryl. thank you for having me on again. that was an interesting departure. on those grounds they had a number of their functions. cheryl: they were right where all the violence is. they got out just in time.
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they weren't there to put money down. to start investing money in egypt. >> you must hold up. things are not settled there. this is not the time to commit your money. i had a chinese client that they were having difficulties with their investments in egypt. it is not just america. cheryl: the united states, if you look at the fiscal year 2012 budget, the appropriations that we are sending overseas, we have 3.1 billion appropriated, number two egypt. whether or not that sticks, i don't know, is that the reason u.s. investors are looking at the middle east for investment opportunities? does that make sense? >> we had a lot more power. when that money was going to the
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military regime. it has been a military regime since the early 50s. we have a lot less power because a lot of those countries are not exporting oil and being completely in the tank. as a matter of fact, the current former muslim brotherhood was just in europe trying to collect some more aid. this comes at a bad time for the egyptian economy. cheryl: i have one other question. israel and iran. we had a war of words at this point and then you also have the united nations coming and the un coming in two weeks. aren't you worried about this at all? >> it is a very difficult situation. ironic is trying to be the leader of that part of the world and the islamic part of the world as well.
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iran, iraq, which they basically have to much power and, syria and lebanon. also, basically surrounding much of the sunni powers which have been our allies for years. cheryl: at this point, stay away until further notice. thank you for coming in. rob hardy. dennis: apple shares soaring to new highs. cheryl: one third of businesses plan to hire in the next six months. details in a new survey ahead. first, as we go to break, you cannot tonight treasury markets. the guilt is actually higher. ♪ [ male announcer ] at scottrade,
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>> i am tracy byrnes with your fox business brief. stocks are higher for the second straight day.
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investors are continuing to cheer the federal reserves aggressive stimulus plan to drive job creation in the u.s. shares of western digital are under pressure. this is after it slashed its revenue outlook due to falling demand. on a positive note, though, they initiated a quarterly dividend by $1.5 billion. home depot is closing its last seven stores in china. retailers are facing pressure in china with its slowest economic growth in three years. that is the latest from the fox business network. giving you the power to prosper. ♪ now we need a little bit more... a little bit more vanilla? this is great! [ male announcer ] at humana, we believe there's never been a better time to share your passions... because the results... are you having fun doing this? yeah.
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that's a very nice cake! [ male announcer ] well, you can't beat them. [ giggles ] ohh! you got something huh? whoa... [ male announcer ] humana understands the value of spending time together that's a lot of work getting that one in! let's go see the birdies. [ male announcer ] one on one, sharing what you know. let's do it grandpa. that's why humana agents will sit down with you, to listen and understand what's important to you. it's how we help you choose the right humana medicare plan for you. because when your medicare is taken care of, you can spend more time sharing your passions. wow. [ giggles ] [ male announcer ] with the people who matter most. i love you grandpa! i love you grandma! now you're a real fishman. [ male announcer ] humana. cheryl: papool ron does not stop here. ashley webster joins me now with the rally overseas.
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ashley: the fed fueled rally. don't forget because we had the big bazooka from the ecb, you put all of that together. it finished. nice indeed. the ftse up nearly 100 points. the german dax also up 1.4%. very good day indeed. all eyes now on spain. will spain be asking for financial help? that is a big issue we had in the meeting today. we are just fine. the analyst not buying it. under a lot of pressure. they are will be a lot of backlash back home. cheryl: they have to come to a consensus. ashley: they do. sooner better than later. cheryl: thank you, ashley.
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dennis: a survey from our next guest shows optimism and small business has taken a hit. joining me now charlie moore founder and chairman of rocket lawyer. thank you for being with us, charlie. 45% of the small business people in your survey say the number one concern is the autonomy and get 33% say they want to hire in the coming year. >> right. that is a great question, dennis. we do the small business index in order to really take a pulse of small businesses for what they think about the economy, legal issues and of course this is an election year. everything is overlapping right now with the election. more than one third of small businesses we surveyed do say
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they are planning to hire this year. as you mentioned, optimism has changed a little bit. we do our small business index twice a year. at the beginning of the year over 80% thought that 2012 would be a better year than 2011. that was down to about 56%. i do think it is still hopeful that more than one third of the small businesses are planning to hire. dennis: takeover were you can get it. 56% fee a better first half. 65% say they have been confronted by legal issues in the past year. that is way up from the year before. there is too much regulation hurting these guys. >> well, small businesses do tell us that government regulation and compliance are
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their biggest issues on their minds. that is about one third. the next issue is, of course, the fear of being sued. about 22%. they feel that is the biggest issue affecting their business. dennis: one hopeful note is your longest small business is 64% of the next generation are optimistic. thank you for being with us. charlie moore with rocket lawyer. >> my pleasure, dennis. cheryl: it is a quarter till. nicole, home depot saying they will close those last seven stores in china. nicole: that is correct. really, the dow up 60 points. take a poke at home depot. we are also taking a look at some of the office retailers. like staples, office depot,
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officemax. why are we looking at these three names in particular? office max has some liability notes that were of concern from women. they are done. there they are up. staples getting a stellar pop. up 4%. the tech heavy nasdaq up 1.1%. the s&p looking good. the dow hitting new update your highs as we have been noting. dennis: thank you very much, nicole. videogame makers trying to fight off their worst losses in six years. cheryl: liz claman find out how as three days in the valley
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continues. first, take a look at some of today's winners over on the nasdaq. ♪ [ male announcer ] let's say you need to take care of legal matters. wouldn't it be nice if there was an easier, less-expensive option than using a traditional lawyer? well, legalzoom came up with a better way. we took the best of the old and combined it with modern technology. together you get quality services on your terms, with total customer support. legalzoom documents have been accepted in all 50 states, and they're backed by a 100% satisfaction guarantee. so go to legalzoom.com today and see for yourself. it's law that just makes sense. that bringing you better technology helps make you a better investor. with our revolutionary e-trade 360 dashboard
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cheryl: it is more than $60 billion industry. the videogame business had explosive growth at the start of the millennium. like the drop-off in howl of the biggest players survive? it is day three of the three days in the valley. liz: that would be sony computer entertainment, america.
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this question about the entire industry is what is going on? well, my next guest has been doing this for more than 20 years. he does not even look backwards. he is jack tretton. thank you for being here. here you have sales down for the nine month in a row. what is going on? >> the reality is we have a billion gamers worldwide. we are in the sixth year of a product lifecycle. liz: when you look at august, though, down 20% for the sales overall. i am not talking specifically sony. it makes you wonder, what is the issue here? >> that is a great question.
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one of the bigger challenges if it is difficult to track the industry. difficult to track all the digital sales. also difficult to track all the info coming in from netflix, -- look to the bottom line of companies like ours where gaming has been a great contributor. liz: you have been printing money for quite some time. i am thinking more of the three to play trend. people are using their smart phones. at some point, for the playstation three, jack, go into that part of the business? >> we believe in offering consumers the best things. we do have free to play games.
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it not only allows you to play against your friends, but also others. coming out next month. liz: let's talk about vita. some would say that is acceptable. some would say that is a little bit of a disappointment. how do you view that? >> you have to put it into perspective. a billion gamers worldwide. they are great introductory level gaming experiences. $249 is a small price to play.
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liz: what i want to know, there is mlb, you came out with madden, what is coming for fall, jack? my son and his friends want to know. >> great experiences like mlb. we are heading towards the playoffs. i could be watching my favorite team on tv and switch over and take it on the road with me and pick up the game in progress. that is the type of experience you cannot get on a smart phone or tablet. that is like a true gamer wants to have a vita. we launched in february did with these big franchisors, we are
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very excited about the future. liz: what that somehow add and replace some of the lost revenue when is the newest playstation coming out? >> we have great multi- expenses coming out. we just launched the vita in february. we invested heavily in playstation three. we are focused on those two platforms this year. we have pioneered new technology since we have been in the business. there are some very exciting things coming from sony. [ talking over each other ] liz: i was trying to trick you into giving us the scoop. jack tretton of sony computer entertainment.
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thank you so much. coming up on day three, there was a great headline that says ride the apple trained. voice quality and things like the iphone, they did not get the iphone5 contract. what is in the future? we have a fox business exclusive. we will see you in the next hour. cheryl: thank you very much. we will update you on the situation at the university of texas at austin. all activities will be resuming. all activities on campus will be resuming. classes still canceled for the day after a bomb threat at the university of texas austin. melissa francis and lori rothman will have lots more on the purple affect the feds decision
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and the growing violence overseas. dennis: charlie gasparino can tell you some great news on the red sox. that is all we come back. ♪
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Markets Now
FOX Business September 14, 2012 11:00am-1:00pm EDT

News/Business. Business news. New.

TOPIC FREQUENCY U.s. 20, Us 14, America 10, Charlie Gasparino 9, Charlie 7, China 7, Egypt 7, Ben Bernanke 6, Apple 6, Austin 6, Humana 6, United States 5, Cairo 5, Israel 5, Sony 4, Lebanon 4, California 4, Comcast 4, Boston 4, Liz Claman 3
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